Search OpenLegislation Statutes

This entry was published on 2014-09-22
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Legislative intent
State Finance (STF) CHAPTER 56, ARTICLE 11-A
§ 179-d. Legislative intent. Firms and organizations that do business
with the state of New York expect and deserve to be paid in a prompt and
timely manner. Unjustified delays in paying vendors, construction
contractors, and providers of service may discourage such firms and
organizations from doing business with the state of New York and may
ultimately increase the costs to the state government of purchasing
materials, equipment, and supplies; undertaking construction and
reconstruction projects; and obtaining a wide variety of professional
and other specialized services including those that are provided to
persons in need. Consequently, this legislation sets standards for the
payment of bills incurred by state agencies within specified periods of
time and requires interest payments in situations where contract
payments do not conform to these standards. Consistent with accepted
business practices and with sound principles of fiscal management, it is
the intent of this legislation to encourage state agencies in all three
branches of state government to make payments at least as expeditiously
as they currently do and further to reduce existing payment processing
times whenever feasible, while at the same time permitting the state
agencies to perform proper and reasonable financial oversight activities
designed to ensure that the state government receives the quality of
goods and services to which it is entitled and to ensure that public
funds are spent in a prudent and responsible manner.